Headline National News Nigeria

Reps probe loss of $2.4 billion crude oil sale

House of Representatives is set to investigate the alleged Loss of over 2.4 billion dollars from the Illegal Sale of 48 Million Barrels of Crude Oil Export from 2014 till date.

The Chairman of the Ad-hoc Committee, Mr Mark Gbillah stated this during the inaugural meeting of the Committee at the National Assembly in Abuja.

Mr. Gbillah explained that the probe would also engage local and foreign stakeholders involved in the exportation of the commodity within the years in question.

“The Investigation was in line with President Buhari’s anti-corruption drive and assured all whistleblowers that have revelations made would be treated with utmost confidentiality to enable the committee to succeed.”

He solicited the support and cooperation of individuals and corporate organisations to enable the committee to achieve its mandate.

A member of the committee Mr Ganiyu Johnson, explained that as part of efforts to revive refineries in the country, the Committee had visited some of the nation’s refineries to assess their status for proper recommendation.

Mr Johnson, however, assured that the PortHarcout and Warri refineries would resume full operation by the first and last quarters of the year 2023.

Reporting by Ibrahim Shehu, editing by Daniel Adejo